Monday, June 13, 2016

Noble, OKP, Q&M Dental, Ezra, Tiong Seng

Here are some stocks that could move the market this Monday morning.

Noble Group says its announcement to dispose of its entire 100% interest in Noble Americas Energy Solutions (NAES) has already generated significant interest from a broad spectrum of potential buyers. NAES, based in San Diego, is a market leading commercial and industrial electricity retail provider in the US. Noble last closed at 25 cents.

OKP Holdings says Eng Lam Contractors Co. has been awarded two contracts worth $54.7 million by the Land Transport Authority (LTA) for road resurfacing works along seven major expressways. The road resurfacing works cover the milling of asphalt pavements, supply and laying of asphalt concrete for roads, repainting of road/raised pavement markings and related works. OKP closed at 25 cents.

Q&M Dental Group says it is proceeding with the proposed spinoff and listing of Q&M Dental Holdings (China) (QDHC) on the Catalist board of the Singapore Exchange. QDHC comprises only of the company’s business of operating dental hospitals and clinics and a dental equipment and supplies distribution company in China. Q&M shares last traded at 73.5 cents.

Ezra Holdings, Chiyoda Corporation and Nippon Yusen Kabushiki Kaisha (NYK) jointly announced that the three parties have entered into a agreement for NYK to invest in EMAS Chiyoda Subsea (ECS). ECS is an engineering service provider of subsea-to-surface solutions for oil and gas projects. Through the acquisition of shares from Ezra and Chiyoda, NYK will own 25% of ECS, with Ezra and Chiyoda retaining 40% and 35% stakes, respectively. Ezra shares last traded at 9 cents.

Construction firm Tiong Seng has clinched a $98.3 million contract from the Public Utilities Board. The contract with PUB started in June and will be completed in 2019. The counter closed unchanged at 24 cents on Friday.

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